Hello,
I came here after reading mention of the help this forum provided in stopping customers being ripped off on breakage fees from AIB:
www.independent.ie
I'm wondering if the same is happening to myself please?
Ulster Bank twice, at the end of 2019 and again at the start of 2020, quoted me over €4800 to break out of the remaining 4 years of a 7 year fixed rate at 3.9%.
The article linked above mentioned this is the same steep amount AIB was trying, and then once highlighted here, it was brought down to under €1k.
I've tried figuring out how it works myself while reading these posts but I still don't quite understand. Does a lower interbank fee number mean a lower break fee? Or the opposite please?
Is there a good source to see this interbank rate on a daily basis so I can call to break at the right time please?
I can see here a chart for 1 year that shows it went up at the start of the year:
tradingeconomics.com
Thank you for your time.
Cheerio,
Cormac
I came here after reading mention of the help this forum provided in stopping customers being ripped off on breakage fees from AIB:
AIB forced to ditch 'high breakage fees' after accusations
AIB has been forced into an embarrassing climbdown amid accusations it was overcharging mortgage holders who want to break out of a fixed rate to get a better deal.
www.independent.ie
I'm wondering if the same is happening to myself please?
Ulster Bank twice, at the end of 2019 and again at the start of 2020, quoted me over €4800 to break out of the remaining 4 years of a 7 year fixed rate at 3.9%.
The article linked above mentioned this is the same steep amount AIB was trying, and then once highlighted here, it was brought down to under €1k.
I've tried figuring out how it works myself while reading these posts but I still don't quite understand. Does a lower interbank fee number mean a lower break fee? Or the opposite please?
Is there a good source to see this interbank rate on a daily basis so I can call to break at the right time please?
I can see here a chart for 1 year that shows it went up at the start of the year:
Ireland Three Month Interbank Rate
Interbank Rate in Ireland decreased to 2.46 percent in March from 2.56 percent in February of 2025. This page provides - Ireland Three Month Interbank Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
tradingeconomics.com
Thank you for your time.
Cheerio,
Cormac
